Financial Services

PNC Adds to Board, Declares 95 Cents Dividend

PITTSBURGH – PNC Financial Services Group announced Thursday that it has increased the number of directors on its board to 14 and appointed three new members: Joseph Alvarado, Richard Harshman and Toni Townes-Whitley.

“Each of these three new members of PNC’s board of directors have achieved significant leadership experience and business expertise within different industries and disciplines, and adding them to our board positions PNC well for continued strength and growth as our business evolves,” said William S. Demchak, chairman, president and CEO. “We are committed to intentionally building diverse, high-performing teams at all levels, and the addition of these directors ensures that our board continues to reflect our core value of diversity and inclusion, which makes our board and our company stronger.”

In addition, the board of directors declared a quarterly cash dividend of 95 cents per common share.

The dividend is payable Feb. 5 to shareholders of record Jan. 17.

The board also declared a cash dividend on the following series of preferred stocks:

  • Series B: a quarterly dividend of 45 cents per share payable March 10 to shareholders of record Feb. 14.
  • Series O: a semi-annual dividend of $3,375 per share ($33.75 per each depositary share, 100 of which represent one share of Series O preferred stock) payable Feb. 1 to shareholders of record Jan. 17.
  • Series P: a quarterly dividend of $1,531.25 per share ($.3828125 per each depositary share, 4,000 of which represent one share of Series P preferred stock) payable Feb. 1 to shareholders of record Oct. 17.
  • Series Q: a quarterly dividend of $1,343.75 per share ($.3359375 per each depositary share, 4,000 of which represent one share of Series Q preferred stock) payable March 1 to shareholders of record Feb. 14.

Published by The Business Journal, Youngstown, Ohio.